Cardston, Alberta--(Newsfile Corp. - November 24, 2021) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to present the results for the first two drill holes completed on the new discovery at CBS, formerly known as the NEAA Zone, at their flagship property, Treaty Creek (the "Project"), located within the Golden Triangle of Northwest British Columbia.
Joint Venture partner Tudor Gold has concluded the safe completion of the 2021 Exploration Program, which included a total of 30,108 meters of drilling. Results from the final eleven drill holes from Goldstorm, one hole at CBS, and several surface chip sample lines from the Eureka Zone are expected to be received shortly and will be released once final analysis and interpretation is completed.
Calm Before the Storm Results
CBS is the fourth significant precious metal mineralized zone to be discovered at the Treaty Creek Project. The CBS Zone is located two kilometers northeast of the Goldstorm Deposit and occurs on the same structural trend that hosts the Perfect Storm Zone (PSZ) and the Copper Belle-Goldstorm Deposit (CB-GS), which currently hosts an estimated Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 AuEq (see Tudor Gold press release dated March 9, 2021).
Treaty Creek, CBS Zone Drilling and Surface Sampling Highlights include:
- Identified a new mineralized zone, "Calm Before the Storm", near the lower Treaty Camp; 15% (25 out of 170) of rock chip samples assayed >0.5 g/t AuEq and 5% (8 out of 170) of samples contained >1.0 g/t AuEq.
- Drill results at Calm Before the Storm from the deeper hole, CBS-21-02, which returned 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq, demonstrate that gold-silver mineralization is getting stronger at depth.
- The Upper and Lower Exploration camps were closed in early November, but on-going environmental and climatic studies will continue throughout the year with helicopter support provided by Yellowhead Helicopters based in Stewart, B.C.
Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: "Our 2021 exploration program has been exceptionally successful at broadening our understanding of the mineralization throughout the Treaty Creek Property. The Project now has four large geological targets that require extensive exploration and drilling, including the Goldstorm Deposit which remains open in all directions and at depth. The size and scope of our exploration program is growing exponentially with each new discovery to add to the chain of precious and base-metal deposits and targets associated with the extensive Sulphurets-Treaty thrust fault system. We are very pleased with the results of the surface sampling programs and in-particular the discovery hole from our preliminary drill results at our new zone, Calm Before the Storm (CBS). The gold and silver values at CBS are interpreted to be hosted within possibly younger rocks than the host lithologies at Goldstorm. Drill hole CBS-21-02 intersected a distinct mineralized zone with 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq. Our geological crews require further review of this core after compiling the assay results to determine the controls for gold and silver distribution and emplacement."
The complete list of composited drill hole results for CBS, as well as the drill hole data, including hole location, elevation, depth, dip and azimuth, are provided in Table 1 and Table 2, respectively. A list of highlighted surface chip and channel samples from CBS are included in Table 3. Please click on the following link to view: Plan Map and Cross Sections for the drilling and surface samples reported in this news release.
Table l: Drilling Results Calm Before the Storm Zones in Press Release November 23, 2021
|Section / Plan||Hole / Chip Line||From
|A - 180||CBS-21-01||14.25||33.50||19.25||0.37||0.67||16||0.38|
|A - 180||CBS-21-02||150.50||306.00||155.50||0.78||2.34||41||0.82|
- All assay values are uncut and intervals reflect drilled intercept lengths.
- HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals
- The following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries.
- True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.
Table 2: Drill data for holes in Press Release November 23, 2021
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
|A - 180||CBS-21-01||430616.2||6273880.5||979.6||140||-45||404|
|A - 180||CBS-21-02||430726.0||6273999.1||981.2||200||-45||512.1|
Table 3: CBS Surface Sample Results in Press Release November 23, 2021
|Sample||Zone||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Type||Length||Au
Darren Blaney, CEO of American Creek commented: "Establishing a new zone of mineralization at Treaty Creek is significant and starts to show just how much further potential the property has. It's important to understand the Calm Before the Storm zone's relationship within the Sulphurets Hydrothermal System (SHS). Treaty Creek has many mineralized zones such as the GR2, HC, Konkin, and Orpiment zones that, while worth investigating, aren't part of the mega-deposit sequencing going on in the SHS, while the CBS zone is. Mr. Konkin has pointed out that it's common for world-class hydrothermal systems to have a rhythm or sequence of deposits emplaced. Within the SHS, these deposits and mineralized zones occur approximately every 2.5km. Each are unique and any with sufficient exploration have become world-class deposits. Starting from the north, they include the Calm Before the Storm, Goldstorm, Eureka, Perfectstorm, Ironcap, Mitchell, Snowfield, Sulphurets and Kerr. The KSMI & Snowfield belong to Seabridge Gold and represent the largest undeveloped gold deposit in the world by reserves. Only the Goldstorm on Treaty Creek has had sufficient exploration for a resource calculation. We are looking forward to the further exploration and development of all four zones given their protentional within the SHS."
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
Treaty Creek JV Partnership
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek. American Creek and Teuton are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both American Creek and Teuton have "free rides".
About American Creek
American Creek is a Canadian junior mineral exploration company with gold and silver properties in British Columbia, Canada.
The Corporation has an interest in the Treaty Creek property, a joint venture project with Tudor Gold/Walter Storm located in BC's prolific "Golden Triangle".
The Corporation also holds the Austruck-Bonanza gold property located near Kamloops.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Corporation expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Corporation's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Corporation in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators.
Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104936